Apple is said to have its music streaming service up and running by June.
With Aussie-based Guvera.com and Sony’s Bandit.fm offering up music streaming services, it was only a matter of time before Apple would try and address the assault on its only music business.
With the buying up of streaming service Lala, Cnet announced that Apple is intending to set up its own streaming service at the beginning of the third financial quarter.
With digital downloads and streaming now making up 27 percent of the revenue in the music industry, it was only a matter of time before a bevy of services came on board. The trick has been how to offer up something that doesn’t cost the Earth, but makes money for the artist and record company, while at the same time trying to dissuade bit torrent ‘services’ from giving away music for free.
Before the digital revolution, record companies, bands and artists made a lot of money from record and CD sales, but that is now on the wane. Record companies are looking towards their publishing business for revenue, while bands are finding touring a lot more lucrative.
However, some of these new services – especially the Guvera model which gives you music for free – means that recorded music might still offer up a good stream of income for bands, if the masses latch onto the ideas.